On September 28, Newmont Mining fell 3.27% overnight, trading at $117.46 per share, with turnover of $2.4842 million. The decline came amid a broad selloff across the precious metals sector.

On the news front, spot gold prices plunged nearly $70 during the Asian session, dropping to around $4,215 per ounce and extending the prior week's losses of over 2%. The selloff was triggered by a confluence of macro headwinds: the ongoing Hormuz Strait standoff has kept energy costs elevated, reinforcing expectations that the Federal Reserve may pursue further rate hikes to combat persistent inflation. Although gold traditionally serves as an inflation hedge, higher interest rates diminish its appeal relative to yield-bearing assets. Meanwhile, the yield spread between long- and short-term Treasuries narrowed to just 17 basis points — the tightest since early last year — raising the prospect of a yield curve inversion, a widely watched recession warning signal.

Within the Gold sector, stocks declined broadly. Coeur Mining fell 3.17%, Wheaton Precious Metals dropped 2.78%, Barrick Mining lost 2.59%, Kinross declined 2.51%, and Agnico Eagle Mines slid 2.42%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)